quinzio

I sketched a probable path for the next days

TVC:IXIC   NASDAQ Composite Index
I sketched a probable path for the next days
Future have been slightly rising tonight.
Today the Nasdaq Comp may open at 7200 with a gap up.
In my scenario that would be a quite long term top.
Consider that Febrary is at half (10 trading days to the end) so it could well be a good turning point.
Nasdaq rose 8% in 4 session from bottoms. That is a lot.
In my scenario it will test again the bottoms.

Let's see what it actually does.
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It looks like my idea was not really not so crazy.
Let's follow the markets into the close.

It all looks very weaks, although.
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The main idea is that something as a bear market has started. More than a correction.
The easiest thing it could do is a fake head'n'shoulder.
So if one is long, one should keep the left shoulder level or less as an exit point or a short entry.
Another test of the Friday bottom is due at least, IMO.
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...Based on what??
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quinzio ricsalrod
@ricsalrod, The main idea is that something as a bear market has started. More than a correction.
The easiest thing it could do is a fake head'n'shoulder.
So if one is long, one should keep the left shoulder level or less as an exit point or a short entry.
Another test of the Friday bottom is due at least, IMO.
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